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The decentralized finance (DeFi) sector is one of the most effective and promising parts of the world’s growing finance industry. As the name implies, decentralized finance removes central authorities and intermediaries from the sector, and gives the public direct access to financial products at the best possible prices. Essentially, banks and other financial institutions are no longer able to exercise their control over the market, putting power in the hands of ordinary individuals.
There are many advantages to using DeFi. One of the most remarkable is the independence it provides to the audience. With DeFi, people who transact in the financial sector using different products have complete control over their money and can direct it as they prefer. Also, DeFi does not impose severe restrictions on access to these financial products, unlike the traditional system that reserves many products for high net worth individuals. Another advantage of DeFi is the reduced fees; Since there are no intermediary banks or financial institutions, you do not have to worry about the large fees charged by these entities.
Today, many entities have witnessed the ease that DeFi brings to the industry, and are looking to use this technology to disrupt the global finance sector. Some are launching new products, while others have goals for general market improvement – one such entity is the DeFi 3.0 Alliance.
What is the DeFi 3.0 Alliance?
The DeFi 3.0 Alliance is a global, not-for-profit association formed to improve the DeFi sector and promote its inclusive growth. The association focuses on the development, education, and global adoption of DeFi products, providing more transparent and affordable access to all. The alliance also promotes the easy and secure use of DeFi 3.0 and Agriculture as a Service (FaaS) solutions.
Cryptocurrency and blockchain technology in general form the cornerstone of decentralized finance. Currently, many people use these offerings to create complex products for more advanced functionality, or relatively simple transactions, such as cross-border payments. The huge potential in this market ensures the continuous development of DeFi, which is gradually shifting to the new DeFi 3.0. This capability drives the DeFi 3.0 alliance to ensure that DeFi 3.0 and FaaS are recognized in the crypto and blockchain sector.
The DeFi 3.0 Alliance currently has eight entities that act as founding members. Each member is a DeFi pioneer, with extensive experience and expertise with related products. Each one also contributes to the entire group’s collective market capitalization of $150 million and a community of nearly 100,000 users. Members include:
- Total Funding (AGFI in USD)
- Cross-chain farming ($CCF)
- Reimagining Funding ($REFI)
- Alpha Brain Capital DAO ($ABC)
- Chad Club # Chad
- Inno Capital ($INC)
- Capital Returns for All Currencies ($ACYC)
- D3 protocol ($DEFI)
In addition to the above, the DeFi 3.0 Alliance will also welcome Foodfarmer.eth as an advisor. However, the Alliance welcomes all DeFi 3.0 or FaaS projects with demonstrable credibility, security, and the necessary drive required in the industry.
DeFi 3.0 Alliance Methods
There are several areas of focus that the DeFi 3.0 Alliance will use to achieve its goal of improving the DeFi 3.0 and FaaS sectors. First, the association will invest in research and development (R&D) to create security standards that are the minimum requirements for deploying secure FaaS and DeFi solutions. In addition to these standards, the Alliance’s research and development efforts will focus on a technology framework that improves innovations and products to reach them across multiple chains.
The DeFi 3.0 Alliance will also enhance the exchange of information on key market issues and trends, providing better DeFi 3.0 and FaaS performance. Furthermore, there will be efforts to promote and advertise DeFi 3.0 and FaaS to an expanded audience of potential market players and alliance members.
As part of its sector improvement plans, the DeFi 3.0 Alliance features an acceleration program that provides seed funding for new projects. Through direct investment from members and association funds, the alliance will provide innovative projects with the liquidity they need to contribute to the advancement of DeFi 3.0 and FaaS.